MKT501 GDB no 1 Fall 14 November 2011

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Cycles of Products have the following phases: 1) INTRODUCTION PHASE: When items are first introduced, they have low demand. In beginning buyers are not familiar with the product and but when they see it as a reliable and good they start buying it. 2) GROWTH PHASE: With the passage of time, reliability of the product become increase and the design and production improvements lead to decrease in cost and price this becomes an attractive feature. 3) MATURITY PHASE: In this stage product reached at maturity stage its demand can increase if the its design is changed and refined and have add some new features may increase the demand of product 4) SATURATION PHASE: In the saturation stage product demand declines and the market is saturated with either a compatible product.. 5) DECLINE: In the decline stage most of the organizations adopt a defensive design R&D Strategy in an attempt to prolong the life of the product by employing new packaging, redesigning it, improving its reliability.